Torex Gold Resources (TSE:TXG) Upgraded to “Strong-Buy” at National Bank Financial

National Bank Financial upgraded shares of Torex Gold Resources (TSE:TXG) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

A number of other research analysts also recently issued reports on TXG. National Bankshares upgraded shares of Torex Gold Resources from a sector perform rating to an outperform rating and lifted their price target for the stock from C$31.25 to C$37.75 in a research note on Thursday. Canaccord Genuity Group increased their target price on Torex Gold Resources from C$30.50 to C$32.00 in a report on Tuesday, July 23rd. TD Securities decreased their price target on Torex Gold Resources from C$34.00 to C$33.00 in a report on Friday, August 9th. BMO Capital Markets raised their target price on Torex Gold Resources from C$29.00 to C$30.00 and gave the stock an outperform rating in a research report on Tuesday, September 10th. Finally, Scotiabank upped their price target on Torex Gold Resources from C$27.00 to C$29.00 in a report on Friday, September 6th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Torex Gold Resources has a consensus rating of Buy and an average target price of C$31.31.

Torex Gold Resources Stock Performance

Shares of TXG stock opened at C$29.14 on Wednesday. The firm has a 50 day moving average of C$25.02 and a two-hundred day moving average of C$22.22. The stock has a market capitalization of C$2.51 billion, a PE ratio of 17.99, a P/E/G ratio of 0.02 and a beta of 1.34. The company has a quick ratio of 2.12, a current ratio of 1.09 and a debt-to-equity ratio of 7.32. Torex Gold Resources has a 52 week low of C$12.40 and a 52 week high of C$29.97.

Torex Gold Resources (TSE:TXG) last released its earnings results on Wednesday, August 7th. The company reported C$0.82 EPS for the quarter, topping the consensus estimate of C$0.70 by C$0.12. The firm had revenue of C$369.83 million during the quarter. Torex Gold Resources had a return on equity of 7.12% and a net margin of 11.16%. On average, research analysts predict that Torex Gold Resources will post 3.4501992 EPS for the current fiscal year.

Torex Gold Resources Company Profile

Torex Gold Resources Inc operates as an intermediate gold producer in Mexico. It primarily holds a 100% interest in the Morelos Gold property, including Morelos Complex, which includes the El Limón Guajes Mine Complex; the Media Luna Project, a processing plant; and related infrastructure that covers an area of 29,000 hectares located southwest of Mexico City.